US renews sanctions against transnational criminal organisations

President Obama has renewed US sanctions targeting transnational criminal organisations (TCOs), which block their assets and prohibit US persons from doing business with them, for a further year. The sanctions, which currently place around 88 people and entities on the Treasury’s SDN List, automatically expire if the President does not renew them within 90 days prior to the anniversary date of their introduction. Among the entities listed are the Japanese Yakuza crime syndicates, Mexican cartel Los Zetas, and Italian criminal organisation the Camorra.

In his letter to Congress, renewing the sanctions by continuing the related national emergency, President Obama said that the activities of TCOs “have reached such scope and gravity that they threaten the stability of international political and economic systems”, adding that “they are increasingly entrenched in the operations of foreign governments and the international financial system”.

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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